Patrick Corcoran speaks out on what's going on with CMBSs

Article Abstract:

JP Morgan Securities Inc analyst Patrick J. Corcoran observed that the market for commercial mortgage backed securities (CMBS) has grown to about 20% since roughly 1996. He also noted that the downturn of both the real estate investment trust (REIT) and CMBS markets reflected the general downturn in the international securities markets. However, he stressed that questionable practices of leading mortgage lenders and property/mortgage REITs magnified the downturn in real estate.

Securities Dealers, Investment Banking and Securities Dealing, Security brokers and dealers, Securities Brokerage, Stocks & Other Equity Securities, Financial Personnel, Stock Brokerage, Officials and employees, Stockbrokers, Securities industry, Interview, Financial analysts, Financial occupations, J.P. Morgan Securities Inc., Corcoran, Patrick J.

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Can bank regulators affect collateralized mortgage obligations?

Article Abstract:

Collateralized mortgage obligations are investor bonds secured by a home mortgages pool. The Federal Financial Institutions Examination Council can require bankers to sell 'high risk' mortgage securities. These securities receive a particular classification but the new Statement of Financial Accounting Standards called 115 does not require an investment to be evaluated on risk. Collateralized mortgage obligations are not as risky as some people believe.

Economic policy, United States. Federal Financial Institutions Examination Council

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A mortgage is almost always preferable to paying cash

Article Abstract:

Study results indicate that home buyers can almost always achieve higher returns by taking out a mortgage, rather than paying cash. It was assumed that the money that would have been spent on a cash purchase would be invested in AA-rated municipal bonds, which have an after-tax risk that is comparable to that of a mortgage. The study's results are analyzed.

United States, Personal Investing, Homeowners, Research, Economic aspects, Personal finance, Investments, Mortgages, House buying, Home buying

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